Santhera stock trading halted as it expects regulator rejection

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ZURICH, Jan 24 (Reuters) - Shares in drugmaker Santhera were suspended by the Swiss stock exchange on Wednesday just before the company said it expected European regulators to reject marketing approval for its Raxone treatment.

The Swiss company said it met with a panel of the European Medicines Agency on Tuesday to discuss the drug aimed at treating Duchenne muscular dystrophy, a genetic disorder characterised by progressive muscular degeneration and weakness.

The company said it now expects the panel to maintain its original position to issue a negative opinion on Santhera’s market authorisation application. It had filed the application on top of its existing marketing authorization to treat Leber’s hereditary optic neuropathy.

The company’s stock fell 9.2 percent before the stock was halted from trading by the SIX Swiss Exchange.

Santhera said it plans to give a further update as planned on Friday. (Reporting by John Revill, editing by Louise Heavens)